PARIS — Zadig & Voltaire founder Thierry Gillier is buying cashmere label Lucien Pellat-Finet, WWD has learned.
“I am delighted to continue the adventure of this emblematic brand with the complicity of Lucien, who will become a member of our board,” Gillier said in a statement, referring to the designer Lucien Pellat-Finet.
Financial terms of the deal were not disclosed.
Pellat-Finet’s label, which is best known for brightly colored cashmere sweaters with motifs such as marijuana leafs, graffiti and skulls — often tied to pot culture — is distributed through its network of 10 stores in Japan as well as multibrand stores around the world.
Pellat-Finet said he was pleased to take part in the “writing of this new chapter,” with Thierry Gillier, 25 years after founding the label.
The loss-making label has been under court administration since entering bankruptcy proceedings last October.
The designer, who often shows men’s and coed collections on the runway in Paris during men’s fashion week, has tried out a range of categories for the brand over the years, including tie-dye cashmere sweaters, bikinis with hemp leaf motifs, and velvet and Lurex bomber jackets.
Contemporary rock-chic label Zadig & Voltaire, which is just over 20 years old, has been expanding into the U.S., with help from an investment in the label from U.S.-based private equity and buyout firm TA Associates six years ago. The firm last year mandated Rothschild & Cie to find an additional investor for further expansion.